JPMorgan Chase & Co. Sells 120,167 Shares of Chemed Co. (CHE)

JPMorgan Chase & Co. reduced its position in Chemed Co. (NYSE:CHE) by 68.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 55,196 shares of the company’s stock after selling 120,167 shares during the quarter. JPMorgan Chase & Co. owned about 0.34% of Chemed worth $17,639,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CHE. Tower Research Capital LLC TRC grew its stake in shares of Chemed by 70.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 544 shares of the company’s stock worth $175,000 after purchasing an additional 224 shares during the period. First Republic Investment Management Inc. grew its stake in shares of Chemed by 23.6% during the 2nd quarter. First Republic Investment Management Inc. now owns 1,322 shares of the company’s stock worth $425,000 after purchasing an additional 252 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Chemed by 10.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,689 shares of the company’s stock worth $865,000 after purchasing an additional 264 shares during the period. United Services Automobile Association grew its stake in shares of Chemed by 5.0% during the 2nd quarter. United Services Automobile Association now owns 5,934 shares of the company’s stock worth $1,910,000 after purchasing an additional 280 shares during the period. Finally, Atria Investments LLC grew its stake in shares of Chemed by 29.0% during the 3rd quarter. Atria Investments LLC now owns 1,329 shares of the company’s stock worth $425,000 after purchasing an additional 299 shares during the period. 88.06% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Chemed from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Bank of America assumed coverage on shares of Chemed in a research note on Friday, October 12th. They set a “buy” rating and a $390.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $332.00.

Shares of NYSE CHE opened at $303.12 on Thursday. The stock has a market capitalization of $4.85 billion, a P/E ratio of 56.55, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. Chemed Co. has a 52 week low of $234.00 and a 52 week high of $335.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.11 and a current ratio of 1.14.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Monday, October 29th. The company reported $3.07 EPS for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.27. The firm had revenue of $444.15 million for the quarter, compared to analysts’ expectations of $445.16 million. Chemed had a net margin of 11.73% and a return on equity of 35.13%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.15 EPS. As a group, equities research analysts expect that Chemed Co. will post 11.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 12th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 0.40%. Chemed’s payout ratio is 22.39%.

In related news, VP Naomi C. Dallob sold 5,500 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $317.23, for a total value of $1,744,765.00. Following the sale, the vice president now directly owns 11,122 shares of the company’s stock, valued at approximately $3,528,232.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Donald E. Saunders sold 300 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $308.74, for a total transaction of $92,622.00. Following the completion of the sale, the director now directly owns 8,251 shares in the company, valued at $2,547,413.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,953 shares of company stock worth $7,678,463. 4.90% of the stock is owned by corporate insiders.

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Chemed Company Profile

Chemed Corporation provides hospice and palliative care services in the United States. It operates through two segments, VITAS and Roto-Rooter. The VITAS segment offers direct medical services, as well as spiritual and emotional counseling services to terminally ill patients. This segment offers its services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers.